First supply chain expo looks to bolster global supply chains

The venue of the China International Supply Chain Expo (CISCE) in Beijing on Nov. 26, 2023. [Photo/Xinhua]

China is holding its first China International Supply Chain Expo (CISCE) in Beijing from Nov. 28 to Dec. 2 under the theme of "Connecting the World for a Shared Future." The event represents a landmark contribution to bolstering global industrial and supply chains and positions China as a global hub for connecting hundreds of domestic and foreign companies with international exhibitors and suppliers.

As the world's first national-level expo with a dedicated focus on bolstering industrial supply chains, the CISCE carries an important message about embracing interconnectedness and overcoming disruption risks. It is a big step toward fostering innovative exchanges among companies that have achieved technological breakthroughs and will help to link participants with a range of domestic suppliers in one place.

All of this delivers on China's understanding that the global industrial system is experiencing "a diversified layout, regional cooperation, green transformation, and accelerated digitalization." It also significantly reflects China's vision to share new opportunities for global supply chain resilience, particularly during a period of rapid global transformations in technology, science, and resources. The expo offers five designated supply chain areas to demonstrate those prospects. These include areas relating to smart vehicles, green agriculture, clean energy, digital technology, and healthy living, effectively catering to multi-sector collaborations.

Through a wide range of participating U.S. companies, the CISCE also reaffirms China's profile as a level-playing host to all businesses and manufacturers amid global division. After all, 20% of the CISCE's international exhibitors include U.S. companies, such as Amazon, Apple, Intel, ExxonMobil, Tesla, Intel, Qualcomm, Honeywell, and GE Health-Care. Their positive perception of the CISCE complements prospects of launching high-end U.S. products at a critical juncture. As two of the world's leading economies, China and the U.S. stand to benefit from a widening pool of trade and investment opportunities.

These opportunities may gather momentum across key expo sectors such as smart vehicles, green agriculture and clean energy, and make clear that all participants are united in their pursuit of a dependable and secure global industrial supply chain system.

"The first China International Supply Chain Expo showcases its strong appeal to American enterprises," said Zhang Shaogang, vice chairman of the China Council for the Promotion of International Trade (CCPIT). "As they pursue their own development goals, we also encourage these companies to actively contribute to the promotion of a healthy, stable, and long-term relationship between China and the United States."

China continues to represent a top destination for manufacturers and has consistently demonstrated that decoupling and supply chain disruption benefits no one. Leading firms are able to leverage mass production through conducive market conditions, fair pricing, and a sense of stability in China's sprawling manufacturing ecosystem. The CISCE reflects these rationales and promises a long-term platform to better integrate domestic and overseas markets under the banner of "Joint Contribution, Extensive Promotion, and Shared Benefits." Through high-level exhibitions and a dedicated platform to spur cross-cutting partnerships, companies can navigate the intricacies of a fast-changing global and industrial supply chain environment.

China's outstanding performance track record has also contributed to the launch of the inaugural CISCE. The country understands the value of resilient global supply chains to international economic development well, encouraging countries to establish a truly efficient and open supply chain system. A significant majority of foreign enterprises consider the Chinese market their primary consumption base, and China's manufacturing capabilities represent nearly a third of the global share.

As such, the CISCE puts all these merits on offer for international exhibitors and participants. By leveraging greater market opportunities, countries are best positioned to plug volatilities in the international supply chain system and drive long-term stability.

Hannan R. Hussain is a foreign affairs commentator, author and recipient of the Fulbright Award.